Commerzbank Aktiengesellschaft FI increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,258 shares of the company’s stock after buying an additional 33,276 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in PepsiCo were worth $32,580,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. WP Advisors LLC purchased a new stake in PepsiCo in the second quarter worth $118,000. Well Done LLC purchased a new stake in PepsiCo in the first quarter worth $125,000. Atlas Capital Advisors LLC increased its stake in PepsiCo by 85.7% in the second quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock worth $149,000 after purchasing an additional 600 shares during the period. Independent Order of Foresters purchased a new stake in PepsiCo in the second quarter worth $152,000. Finally, Clearwater Capital Advisors LLC purchased a new stake in PepsiCo in the first quarter worth $154,000. Institutional investors own 70.70% of the company’s stock.
In other PepsiCo news, CEO Laxman Narasimhan sold 5,500 shares of PepsiCo stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $106.79, for a total value of $587,345.00. Following the transaction, the chief executive officer now owns 130,135 shares in the company, valued at $13,897,116.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mike Spanos sold 20,074 shares of PepsiCo stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total value of $2,256,719.08. Following the completion of the transaction, the chief executive officer now owns 35,520 shares in the company, valued at approximately $3,993,158.40. The disclosure for this sale can be found here. Insiders sold 205,893 shares of company stock worth $22,663,157 in the last quarter. 0.27% of the stock is owned by insiders.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The firm had revenue of $16.49 billion for the quarter, compared to analyst estimates of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 5.65 earnings per share for the current year.
A number of research firms have weighed in on PEP. TheStreet upgraded PepsiCo from a “c+” rating to a “b-” rating in a research note on Friday, July 6th. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. ValuEngine upgraded PepsiCo from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Citigroup increased their target price on PepsiCo from $111.00 to $118.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 11th. Finally, Cfra set a $129.00 price target on PepsiCo and gave the company a “buy” rating in a research note on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $117.89.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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